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Dave, when you or Roger post items like this, I get the impression you believe you are reporting a scandal of some sort.

Well, soon enough, you along with the rest of the Americans that took advantage of the “Bush Tax Cuts” will have an opportunity to participate in the “obama Tax Increases.”

I doubt you will ever believe no matter what tax increase is imposed on those who make more than you it will ever be enough.

Subroc,
You misread me then. I would be the first to vote for a flat tax. I just thought that anyone who believes in a fair tax law would be upset that the billionaires pay a lower tax rate than most of us here on POTUS.

Yes, when middle-class Americans pay a higher percentage of their wages in taxes than billionaires who conduct business and provide jobs overseas.....that is a scandal!

WASHINGTON – As millions of procrastinators scramble to meet Monday's tax filing deadline, ponder this: The super rich pay a lot less taxes than they did a couple of decades ago, and nearly half of U.S. households pay no income taxes at all.
The Internal Revenue Service tracks the tax returns with the 400 highest adjusted gross incomes each year. The average income on those returns in 2007, the latest year for IRS data, was nearly $345 million. Their average federal income tax rate was 17 percent, down from 26 percent in 1992.

I don't know how the right-wingers will feel about this...but I'm feeling like we're all taking the shaft! And I'm not talking about the over 250k/yr crowd. That's peanuts compared to what these folks are making.

I don't know about anyone else, but this pi$$e$ me off.

I pay higher than a 17% effective rate. What a load of horse $hit.

You're right Dave, it's a scandal.

If I hear one more time that we have a spending problem not a revenue problem, I'm gonna throw a brick through the 55 inch screen. You gotta hand it to them, they know how to stick with a talking point though don't they?

Last edited by Buzz; 04-17-2011 at 11:07 PM.

"For everyone to whom much is given, of him shall much be required." -- Luke 12:48

I would like to agree with you, Doc, but it wouldn't be long before we had an underground economy that would choke an ox.

The only tax that would catch everyone is a consumtion tax...one that would exclude food and meds (to protect the 'poor' ya know). Since the majority of the states have a 'sales' tax now, it would be the easiest to implement, with very little additional personnel to collect it.

UB

From personal experience as there is Sales Tax, No Income Tax in WA. More than 1/2 the potential revenue is lost in those exempt from the Sales Tax, so the rest of us pay twice as much. So it would be no better than the present Federal system given time & payoffs. I still favor Steve Forbes idea.

Originally Posted by Buzz

I don't know about anyone else, but this pi$$e$ me off.

I pay higher than a 17% effective rate. What a load of horse $hit.

it's a scandal.

The Federal Reserve & the O person have finally lowered our taxes to the point the that we pay, barely. In fact the lowest rate we have paid since I got the sheepskin . Course there is the corresponding hit on income. Buzz, you don't know how good it feels to sell a stock & know that we get to keep it all.

I really have an issue with the class envy thing - those gabillionaires are making jobs, a lot of them. Gates, Soros & the Koch's get to spend their money as they see fit, which is appropriate as they earned it. How many jobs does a billion dollar yacht make?

We ran Totten's trial in Twin Bridges, Went to the Trout unlimited banquet & had a young lady sit with us whose income was derived from caring for the homes of the rich while she tries to find a young rancher. She said they show maybe once or twice a year at most. Now if you wanted to take away the mortgage deduct for anything beyond a 1st home, I would favor that wholeheartedly.

As you edited after I pulled you up - REPEAT AFTER ME, THERE IS A SPENDING PROBLEM, NOT A REVENUE PROBLEM. I guess we're going to have to start calling you Mr BIG GOVERNMENT - How'd that work for MI?

From personal experience as there is Sales Tax, No Income Tax in WA. More than 1/2 the potential revenue is lost in those exempt from the Sales Tax, so the rest of us pay twice as much. So it would be no better than the present Federal system given time & payoffs. I still favor Steve Forbes idea.

The Federal Reserve & the O person have finally lowered our taxes to the point the that we pay, barely. In fact the lowest rate we have paid since I got the sheepskin . Course there is the corresponding hit on income. Buzz, you don't know how good it feels to sell a stock & know that we get to keep it all.

I really have an issue with the class envy thing - those gabillionaires are making jobs, a lot of them. Gates, Soros & the Koch's get to spend their money as they see fit, which is appropriate as they earned it. How many jobs does a billion dollar yacht make?

We ran Totten's trial in Twin Bridges, Went to the Trout unlimited banquet & had a young lady sit with us whose income was derived from caring for the homes of the rich while she tries to find a young rancher. She said they show maybe once or twice a year at most. Now if you wanted to take away the mortgage deduct for anything beyond a 1st home, I would favor that wholeheartedly.

Marvin, if what you said was true, I would be inclined to agree with it. Many of these billionaires are making money from off-shored manufacturing. They are NOT creating jobs here. Not all of them, anyway. And as for Gates, he was part of a consortium with Warren Buffett saying, "we can afford it, tax us fairly and fix this deficit mess!" (ie, more)

Gates has all the right to " donate " as much taxes as he would like. That is crap to ask for higher taxes. I don't claim to know or wish to speculate why he and Warren Buffit sY this but they can give all their money if they want.

...And as for Gates, he was part of a consortium with Warren Buffett saying, "we can afford it, tax us fairly and fix this deficit mess!" (ie, more)

Originally Posted by ppro

Gates has all the right to " donate " as much taxes as he would like. That is crap to ask for higher taxes. I don't claim to know or wish to speculate why he and Warren Buffit sY this but they can give all their money if they want.

Agree Gates” opinion on how the rest of us are taxed is as meaningless as me being a consumer saying to him his product prices should be lower.

subroc

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